Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against Variational Omni+0.029%7-day average −0.003% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.097%−$10 on $10k

Price spread, last 4 days (all we have)−0.054%−$5 · spread now +0.029%, 7d avg −0.003%

Together, before fees−0.150%+ Points / potential airdropVariational Omni: Active · farm board−$15 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SunX is 0.033% dearer against Variational Omni than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni IREN	46.976	0	get 0.0000% / 8h	6h 56m	$183K	$101K	—
Short	SunX IREN-USDT	46.990	0	get 0.0000% / 8h	6h 56m	$973	$322K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Variational OmnibpFee SunXbpOrdersPrice spread, now +0.029%Rate

Funding earned: $0
Price spread: +0.029% → −0.003%: $3.25
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$4.75
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 37 min ago; SunX: live order book, 44 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Variational Omni RFQ quote, 37 min ago	3.54 bp	doesn't fit	79.0 bp −$790	doesn't fit	doesn't fit
Sell SunX live order book, 44 min ago	46.29 bp	65.3 bp −$65	doesn't fit	doesn't fit	doesn't fit

IREN on 18 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget IRENUSDT	−0.0032%	8h	47.052	+0.161%	$2.1M	$642K	20x	as long as short
Vest IREN-USD-PERP	−0.0025%	1h	46.910	−0.141%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	46.972	−0.010%	$24K	$9K	20x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.060	+0.178%	$1.2M	$573K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.080	+0.221%	$631K	$673K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.010	+0.072%	$811K	$1.4M	25x	as long as short
Variational Omni IRENlong	0.0000%	8h	46.976	long leg	$183K	$101K	—
SunX IREN-USDTshort	0.0000%	8h	46.990	+0.029%	$973	$322K	10x
HTX IREN-USDT	0.0000%	8h	47.030	+0.114%	$9K	$870	20x	as long as short
Binance IRENUSDT	+0.0031%	8h	47.080	+0.221%	$3.5M	$6.5M	25x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH IREN	+0.0032%	1h	47.049	+0.155%	$70K	$96K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.022	+0.098%	$4K	$4K	5x	as long as short
QFEX IREN-USD	+0.0051%	1h	47.010	+0.072%	$1.2M	$1.5M	10x	as long as short
Paragon para:IREN	+0.0060%	1h	46.940	−0.077%	$604K	$177K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.000	+0.050%	$743K	$346K	20x	as long as short
tradeXYZ xyz:IREN	+0.0286%	1h	47.047	+0.150%	$3.1M	$2.0M	10x	as long as short
Phoenix IREN	+0.0342%	1h	46.984	+0.016%	$85	$31K	10x	as long as short
GRVT IREN_USDT_Perp	+0.0513%	8h	47.000	+0.050%	$5K	$226K	10x	as long as short